Asia

Asia is the central and eastern part of Eurasia and world's largest continent. Defined by subtracting Europe from Eurasia, Asia is either regarded as a landmass of its own or as part of Eurasia.

Economy

Main article: Economy of Asia

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In terms of gross domestic product (PPP), Asia's largest economy wholly within Asia is that of the PRC (People's Republic of China), however the economy of the E.U. (European Union), one state of which (Cyprus) lies within Asia, is the largest in the world. The E.U.'s status as a supranational union, rather than a sovereign state, makes the claim questionable, especially since, when considered alone, the economy of Cyprus is one of the smallest in both the E.U. and Asia, and not many times larger than that of East Timor, the Asian state with the smallest economy (although as of 2005 there is no reliable data for either Iraq or North Korea). Over the last decade, China's and India's economies have been growing rapidly, both with an average annual growth rate over 6%. PRC is the world's third largest economy after the E.U. and U.S.A., followed by Japan and India as the world's fourth and fifth largest economies respectively (then followed by the European nations: Germany, U.K., France and Italy). In terms of exchange rates however, Japan has the largest economy in Asia and the third largest in the world. South Korea is also one of the largest economies in Asia, while North Korea is one of the poorest.

Related Topics:
Gross domestic product - PPP - PRC - E.U. - Cyprus - As of 2005 - Japan - India - Exchange rates - South Korea - North Korea

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Trade blocs:

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• Asia-Pacific Economic Cooperation
• Association of Southeast Asian Nations
• Closer Economic Partnership Arrangement
• Commonwealth of Independent States
• South Asian Association for Regional Cooperation
• South Asia Free Trade Agreement (proposed)

Natural resources

Asia is by a considerable margin the largest continent in the world, and is rich in natural resources, such as Petroleum and iron.

Related Topics:
World - Petroleum - Iron

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High productivity in agriculture, especially of rice, allows high population density of countries in the warm and humid area. Other main agricultural products include wheat and chicken.

Related Topics:
Rice - Wheat - Chicken

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Forestry is extensive throughout Asia except Southwest and Central Asia. Fishing is a major source of food in Asia, particularly in Japan.

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Manufacturing

Manufacturing in Asia has traditionally been strongest in East and Southeast Asia, particularly in PRC, Taiwan, Japan, South Korea and Singapore. The industry varies from manufacturing cheap goods such as toys to high-tech goods such as computers and cars. Many companies from Europe, North America, and Japan have significant operations in the developing Asia to take avantage of its abundant supply of cheap labor.

Related Topics:
PRC - Taiwan - Japan - South Korea - Singapore - Toy - Computer - Car - Europe - North America

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One of the major employers in manufacturing in Asia is the textile industry. Much of the world's supply of clothing and footwear now originates in Southeast Asia.

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Financial and other services

Asia has three main financial centers. They are in Hong Kong, Singapore and Tokyo. Call centers are becoming major employers in India, due to the availablity of many well-educated English speakers. The rise of the business process outsourcing industry has seen the rise of India and China as the other financial centers.

Related Topics:
Hong Kong - Singapore - Tokyo - India - Outsourcing

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